Case Mead building

Estimated jobs: No estimate released by Rhode Island Commerce Corporation. Credits are not tied to jobs.

Total Commerce incentives: $2,179,977

Address: 68-76 Dorrance St., Providence

Status: Approved by Commerce 2/22/16. But Commerce is reviewing to see if the credit is still needed because this project won state historic-preservation tax credits after it was approved for the Rebuild program.

Project details: Rehabilitation of a historic five-story building that now houses a Dunkin’ Donuts on the ground floor and the Paolino Properties offices. Project includes 44 micro-loft apartments, rehabilitation of building’s exterior and construction of a second egress.

Development firm: Case Mead Association, LLC, of Providence

Lead developer: Firm is managed by former Providence mayor Joseph R. Paolino Jr.

Commerce incentives:

Rebuild Rhode Island tax credits: $2,179,977

Is project expected to repay at least a portion of those Rebuild credits over time, if it’s financially successful? Yes.

Sales-tax exemption with Rebuild credits? Yes, but any sales-tax exemption taken when purchasing construction materials, furnishings and equipment will reduce the amount awarded under Rebuild, dollar for dollar.

Other non-Commerce Corporation incentives? $1.25 million in state historic-preservation tax credits were awarded in June 2016. The city was considering a tax-stabilization agreement for the project in September 2016. Not sure if that has been approved.